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Mar 25 - 09:48 PM

AUD/USD - Trading With Heavy Tone As Top May Have Formed

By John Noonan  —  Mar 25 - 08:20 PM
  • AUD/USD remains offered after falling over 1% since the NY close

  • Break below 0.5930 warns a top may have formed at 0.6072

  • Pair rebounded over 10% from Thursday's 0.5510 low, which may be enough

  • Support at the 38.2 of the 0.5510/0.6072 move at 0.5857

  • Break below 0.5855 would reinforce the view that a top has formed

  • AUD has benefited from central bank and government response to coronavirus

  • There isn't much more to be done and coronavirus uncertainty remains nL4N2BI05J






Source:
Refinitiv IFR Research/Market Commentary

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